Maryland Corporations - Municipal Section 33

Article - Corporations - Municipal

§ 33.

      With respect to any bonds of a municipal corporation the resolution or ordinance authorizing the same may provide:

            (1)      That the principal of and interest on said bonds shall be payable at one or more banks or trust companies, which may be either within or without the State;

            (2)      That the official signatures and seals to be affixed to any such bonds, or the coupons if any attached thereto, except the signature of the clerk or secretary of such municipal corporation which shall be manually affixed, shall be imprinted on said bonds or coupons in facsimile;

            (3)      That any such bonds shall be redeemable in whole or in part at the option of the municipal corporation at any time prior to the respective maturities thereof at such price or prices, either at or above the par value of such bonds as the municipal corporation may prescribe in the enabling resolution or ordinance, provided that any such bonds shall contain a statement of such redemption provisions and provided further that such enabling resolution or ordinance shall make provision for due and proper prior published notice of any such redemption;

            (4)      That any such issue of bonds shall be in varying denominations and shall be in coupon form, registerable as to principal only, or in fully registered form, or both, provided that if both forms are authorized, the same shall be interchangeable;

            (5)      That, in the event any official whose signature shall appear on any such bonds shall cease to be such official prior to the delivery of such bonds, or, in the event any such official whose signature shall appear on any such bonds shall have become such after the date of issue thereof, said bonds shall nevertheless be valid and binding obligations of any such municipal corporation in accordance with their terms.



This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.